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$ 12,500,000
Est. payment | /mo
1.39 Acres Lot
$ 12,500,000
Est. payment | /mo
1.39 Acres Lot
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW26196840
HOA Y/N No
Year Built 1963
Lot Size 1.386 Acres
Property Sub-Type Apartment
Property Description
We are pleased to present the exclusive opportunity to acquire Asher Apartments, a well-maintained 65-unit multifamily community located in El Monte, California. Offered for sale for the first time in more than 40 years, this property represents a rare chance to acquire a generational asset with substantial value-add potential in one of the San Gabriel Valley's strongest rental markets. The property features spacious one-bedroom units with interior upgrades including laminate wood and tile flooring, updated kitchens and bathrooms. Residents benefit from a secure, gated community with controlled-access parking, an on-site laundry facility, individual water heaters, and a new roof installed in 2020. Currently operating at an attractive 6.0% cap rate, Asher Apartments offers approximately 25% upside in rental income. By repositioning the asset to market rents, an investor has the opportunity to increase cash flow and achieve an estimated 8.1% pro forma cap rate. Situated on an oversized parcel within El Monte's Qualified Opportunity Zone, the property also offers potential for future ADU development with the potential tax advantages associated with Opportunity Zone investments. We kindly ask that you please DO NOT DISTURB THE TENANTS.
Location
State CA
County Los Angeles
Area 619 - El Monte
Interior
Fireplace No
Laundry Common Area
Exterior
Pool None
Community Features Sidewalks
Total Parking Spaces 65
Private Pool No
Building
Lot Description Irregular Lot
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 8566022012
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard
Listed by Ryan Loria Triqor Group 949-756-3232, DRE #02006138
Nearby Locations
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Kristine Marquez
Agent License ID: 02151470